Ronaldo joined the Old Lady in a blockbuster deal worth almost £100m earlier this week, ending a record-breaking nine-year spell at Real Madrid in the process.
Higuain had been considered Juventus's star man prior to Ronaldo's arrival, but Calciomercato reports that the Italian champions are now ready to offload the Argentine striker.
The 30-year-old became one of the world's most expensive players when he moved from Napoli to Juve for around £75m in 2016, scoring 55 goals in 105 games for the club since.
However, Juventus could be willing to sell him for €55m (£48.6m) just two years later, with Chelsea understood to be leading the race for his signature.
Chelsea are in the market for a new striker this summer after Alvaro Morata struggled to find his feet during his debut campaign in English football and have been linked with Higuain on numerous occasions in the past.